Oil futures pared their loss after data from Baker Hughes showed that the number of active U.S. rigs drilling for crude fell by 11 to 332 as of Friday, down a sixth straight week. The total U.S. rig count fell 11 to 420. June crude was at $45.83 a barrel on the New York Mercantile Exchange, down 20 cents, or 0.4%. It was trading at $45.72 before the data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News